Clipmarks | Mortgage Clips

Nationalisation Protects Finance Markets

Mon, 08 Sep 2008 07:57:43 GMT

clipped by: abailart
clipper's remarks: A good time to invest, I guess stockmarkets all over the world will soar after the US government pledged a massive input of taxpayers' money to protecting private profits.

Clip Source: www.guardian.co.uk

The United States government last night announced the biggest financial bailout in the country's history, as it took the troubled American mortgage giants Freddie Mac and Fannie Mae into temporary public ownership to save them from collapse.

In one of the most dramatic turns in the year-old credit crunch, the treasury secretary, Henry Paulson, said that the Federal Housing Finance Agency, formerly the regulator of the two companies, would run both businesses. Their current management has been replaced and further funds would be made available, he said.

Tags: tax

Tax -payer picks up the tab

Mon, 08 Sep 2008 05:44:50 GMT

clipped by: klippety
clipper's remarks: Bail-out for Greed and Rampant Speculation thru loop holes create by lobbies executed by spineless politicians, enough I say, enough

Clip Source: www.reuters.com

U.S. seizes Fannie, Freddie, aims to calm markets

WASHINGTON (Reuters) - The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac, launching what could be its biggest federal bailout ever, in a bid to support the U.S. housing market and ward off more global financial market turbulence.

1 of 7Full Size

Officials were concerned mounting losses at the two companies, which own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt, was sapping their vitality and threatening to undermine them at a time other sources of housing finance have largely run dry.

"Our economy and our markets will not recover until the bulk of this housing correction is behind us," U.S. Treasury Secretary Henry Paulson said at a news conference. "Fannie Mae and Freddie Mac are critical to turning the corner on housing."

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Mon, 08 Sep 2008 05:02:23 GMT

clipped by: yourmovingday
clipper's remarks: Free Moving Quote from yourmovingday.com - Save up to 65% on your next move. Get an instant quote from up to 5 moving companies.

Clip Source: www.yourmovingday.com

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Tags: moving companies, movers, shippers, relocators, office moves, residential moves, auto movers

Why American Savers Have Drawn the Short Straw

Sun, 07 Sep 2008 23:09:05 GMT

clipped by: rmowery

Clip Source: www.businessweek.com

Why American Savers Have Drawn the Short Straw

There are painfully real reasons why America's savers feel they've got the short end of the stick

American savers, take a bow. This is your moment of vindication. Your hour of glory. And you earned it (in a manner of speaking).

You resisted the siren call of plastic teaser APRs, dutifully living within your means to store money for a rainy day. You never took out an interest-only mortgage. Never had to pawn the copper pipes from your exurban McMansion to pay the reset on your liar loan. Your credit score would have gotten you into Harvard at age 12.

Good for you! Your reward: injurious savings yields, inflationary rot, and election-season neglect, all served up with a dollop of institutional insecurity.

Tags: america, economy, saving, savers, interest, fed

Misery Index

Sat, 06 Sep 2008 22:15:31 GMT

clipped by: Kelika

Clip Source: latimesblogs.latimes.com

Presidents running for reelection have long known that two issues are good predictors of success: whether the county is at peace, and whether its citizens are living in prosperity.

The misery index, a term coined by the late economist Arthur Orkin, combines the national unemployment rate and the annual rate of inflation to track the mood among voters. Any president whose misery index climbs above 10% -- Gerald Ford in 1976, Jimmy Carter in 1980, George H.W. Bush in 1992 -- is in trouble. Those who serve in times of a falling index -- see Ronald Reagan and Bill Clinton -- prosper.

The Wall Street Journal, in a recent editorial called "McCain, Bush and the Dollar," argues that the economy is ailing now not just because of the subprime mortgage crisis, high gasoline prices or federal tax policy. The culprit, says the Journal: the Bush administration's "malign neglect of the dollar."

Tags: economy, bush, mccain

McCain Hopes Amnesia Will Get Him Elected.

Sat, 06 Sep 2008 13:21:32 GMT

clipped by: citizenbfk
clipper's remarks: The American people would have toforget the last eight years to elect McCain and they would have to fall once again for the politics of divide and conquer, the politics of personal destruction rather than a politics that looks at facts and future plans.

McCain has been part of the problem and now he's going to go in a fix it all? What a joke.

The Republicans are FEMA. The Republicans are a still devasted New Orleans. The Republicans are stealing billions of dollars from taxpayers and putting profit into the pockets of Wall Street bankers. (maybe even TRILLIONS, with this latest bailout of failed mortgage companies Fannie Mae and Freddie Mac).

The Republicans have led us into a war losing 4,000,plus of our own troops and now probably having killed 500,000 Iraqi's or more, cost us more billions (and maybe TRILLIONS) -- and this is for facts we now know are not true...Iraq had no connection to 9/11 and no WMD's

But, forget all that. Amnesia. Vote for McCain. He has Alzheimer'

Clip Source: www.huffingtonpost.com

McCain is Running on the Amnesia Platform, But It's Democrats Who Need to Forget Sarah Palin

According to McCain, "We need to change the way government does almost everything: from the way we protect our security to the way we compete in the world economy; from the way we respond to disasters to the way we fuel our transportation network; from the way we train our workers to the way we educate our children."

Listening to McCain, you'd think it was the Democrats who occupied the White House the last seven-plus years and it was time to throw the bastards out.

Tags: mccain, amnesia, alzheimer's, vote_republican

US Government Takes On Six Trillion Dollars of Bad Debt

Sat, 06 Sep 2008 11:38:44 GMT

clipped by: citizenbfk
clipper's remarks: This is like a bank robbery. Wall St. & Congress have conspired in the largest stealing of tax dollars in US History. This equals all the other failures of Bush/Cheeney and their cohorts.

In comparrison, five (5) years messing over Iraq -- who had nothing to do with 9/11 or WMD's -- has yet to cost a trillion dollars, while this government bailout takes on liability for SIX trillion dollars,,,

... buying all these bad debt mortgage loans to save banker's butts and passing on that debt to tax payers.

This should be no surprise. It's like FEMA in New Orleans. It's like starting a war for false reasons. It's like letting bin Laden run around alive and free.

It's like running out of money to build and repair roads and bridges. It's like joblessness hitting the highest levels in five years.

It's our country going down the tubes, whether for Wall St. bankers, Oil companies, or the interests of Israel.

Bend over America, this is the final screw job of evil profiteers dest

Clip Source: www.washingtonpost.com

U.S. to take control of Fannie and Freddie: reports

WASHINGTON/NEW YORK (Reuters) - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history. The two government sponsored enterprises (GSEs) own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt.

Tags: wall_st, fannie, freddie, banks, bush, mortgages, debt

Another Reason For TERM LIMITS!!!

Sat, 06 Sep 2008 10:10:24 GMT

clipped by: merrie
clipper's remarks: The announcement from Ms. Pelosi came as Republicans seized on Mr. Rangel’s troubles in an attempt to portray him and his fellow Democrats as entrenched and corrupt.

Mr. Rangel, 78, who was elected to the House in 1970, has already asked the ethics committee to examine his renting four rent-stabilized apartments in Harlem and his use of Congressional stationery to solicit donations for an academic center at the City College of New York that would be named for him. He declined to be interviewed on Friday, but through Mr. Davis issued a statement saying he would also ask the ethics committee early next week to investigate his failure to report the rental income from the villa.

“Congressman Rangel is just learning about all of this now,” Mr. Davis said. “He didn’t know how the loan was being paid or whether it was supposed to be reported as income. And until yesterday he thought he had been paying 10.5 percent interest.”

Clip Source: www.nytimes.com

Representative Charles B. Rangel paid no interest for more than a decade on a mortgage extended to him to buy a villa at a beachfront resort in the Dominican Republic, according to Mr. Rangel’s lawyer and records from the resort.

The loan was given to him by the resort development company, in which Theodore Kheel, a prominent New York labor lawyer, was a principal investor. Mr. Kheel, who has given tens of thousands of dollars to Mr. Rangel’s campaigns over the past decade, had encouraged the congressman to be one of the initial investors in the project.

The loan, which was extended to Mr. Rangel in 1988, was originally to be paid back over seven years at a rate of 10.5 percent. But within two years, interest on the loan was waived for Mr. Rangel and six other early investors because the resort was generating less income than projected, according to a statement released on Friday by Jose Oliva, director of the resort.

Tags: charles rangel, failure to report income, state and federal, 38 years in congress, ethics investigation

U.S. Near Deal on Fannie, Freddie

Sat, 06 Sep 2008 02:43:22 GMT

clipped by: pitim
clipper's remarks: Sounds like the Republican wont be able to avoid nationalizing the GSE's.

Bad news for McCain IMO

Clip Source: online.wsj.com

WASHINGTON -- The Treasury Department is putting the finishing touches to a plan designed to shore up Fannie Mae and Freddie Mac, according to people familiar with the matter, a move that would essentially result in a government takeover of the mortgage giants.

The plan is expected to involve putting the two companies into the conservatorship of their regulator, the Federal Housing Finance Agency, said several people familiar with the matter. That would mean the government would take the reins of the companies, at least temporarily.

It is also expected to involve the government injecting capital into Fannie and Freddie. That could happen gradually on a quarter-by-quarter basis, rather than in a single move, one person familiar with the matter said.

An announcement could come as early as this weekend. Some details are still being worked out, and terms of the arrangement could change.

Words Palin didn't say...

Fri, 05 Sep 2008 20:38:36 GMT

clipped by: monstersmom

Clip Source: www.vanityfair.com

Twenty words not found in Sarah Palin’s convention speech (based on the prepared text):

Bush
Cheney
Republican
Wages
Mortgage
Housing
Poverty
Afghanistan
Bin Laden
Torture
Guantanamo
Veteran
Environment
Global
Warming
Health
Care
Abortion
Abstinence
Moose

Pound and euro slide amid more housing gloom

Fri, 05 Sep 2008 16:09:41 GMT

clipped by: JICWyllie

Clip Source: business.timesonline.co.uk

"Our estimate is for 25 per cent to 35 per cent house-price falls from their height...resulting in up to 1.3 million households, or 18 per cent of mortgages by value, in negative equity under our recession scenario," said Bruno Paulson, senior analyst at Sanford Bernstein, the research house.

Mr Paulson said that house price falls would be "far worse" than in the last economic downturn in the 1990s and could have a huge negative knock-on effect for the UK's mortgage lenders.

Morgan Stanley estimated in April that house price falls of 15 per cent over the subsequent 24 months would put 1.2 million people into the red with their property values.

But if price falls of 25 per cent are sustained, that would put 2 million into negative equity, analysts at the investment bank said

Savills said today that its forecast that house prices will fall by 25 per cent over this year and next was looking like an increasingly safe bet.

Tags: economy, consumers, housing, i-prices, i-decrease, i-record

Is It Worth (& Smart) To Refinance Your Mortgage To Pay Off High Interest Credit Card Debt?

Fri, 05 Sep 2008 02:45:55 GMT

clipped by: A53GG4

Clip Source: www.creditcardsmojo.com

Is It Worth (& Smart) To Refinance Your Mortgage To Pay Off High Interest Credit Card Debt?

We all get that dreaded phone call during dinner at some time or another. It’s a mortgage company calling to see if we want to refinance our home and take out cash to pay off debt. If you are like the average American family, then no doubt you have a substantial amount of credit card debt. The average in this country is $8,500.00 however a large percentage of families carry substantially more. So the question comes to the fore, is it really worth it to allow someone to refinance your home in order to pay off all your credit card debt?

Well to begin you need to look at the interest you will pay on your mortgage versus your credit card. With many people paying upwards of 15% on their credit cards each month versus the 6-8% for a typical home loan, initially it seems that you would be better off going with the refinance option than sticking with the credit cards.

Tags: money

consolidate debt

Thu, 04 Sep 2008 08:56:47 GMT

clipped by: tripleone
clipper's remarks: I was deeply in debt and so much worried how to get out of it, credit counseling helped me a lot.bills.com is worth visiting.

Clip Source: www.campusave.com

With rising worries about a recession, more Americans are looking into options to lower their debt, from refinancing their homes to cutting up credit cards. Do you know what options are available to you and which choices are right for you and your family? If your mounting debts are starting to seem overwhelming, you are probably feeling a bit lost and unsure of how to even begin to go about resolving the problems and getting back on top of your finances. It doesn’t have to be that confusing. There are options for debt relief out there, and you can find free answers and guidance at bills.com.

Tags: credit, credit-card, debt, consolidate, money, bankruptcy, savings, mortgage, loan

mortgage rates 1

Wed, 03 Sep 2008 18:55:19 GMT

clipped by: Mad Cow Stupid

Clip Source: www.bankrate.com

NATIONAL OVERNIGHT AVERAGES

TODAY

+/-

LAST WEEK

30 yr fixed mtg	6.25%	6.32%
15 yr fixed mtg	5.76%	5.81%
5/1 ARM	5.89%	5.89%
30 yr fixed jumbo mtg	7.38%	7.43%
5/1 jumbo ARM	6.46%	6.38%

United First Financial

Wed, 03 Sep 2008 10:46:22 GMT

clipped by: tagmixxer
clipper's remarks: The Money Merge Account can help you pay off your home in as little as 10 years.

Clip Source: www.mathnotmagic.com

Use your home to pay your way to your Financial Freedom!

Introducing the Money Merge Account System from United First Financial. The Money Merge Account(MMA) is a unique proprietary program designed to cancel thousands of dollars in interest you would of normally paid on your existing mortgage allowing you to pay off your home, free and clear, in as little as 7-11 years.

This savings is made possible by merging the "spread" between checking/savings accounts and mortgages traditionally in favor of the financial institution back to the benefit of you, the consumer. This unique system made popular over the past decade in Australia and the UK is now available here in the US and Canada exclusively from United First Financial.

Click HERE
to get your copy of this months "Mortgage Planner" Magine cover article of UFirst

Click HERE
to get your copy of the "Broker-Banker" magazine article

Tags: early mortgage payoff, united first financial, mortgage acceleration, money merge account

Clipmarks | Mortgage Clips

Nationalisation Protects Finance Markets

Tax -payer picks up the tab

U.S. seizes Fannie, Freddie, aims to calm markets

YourMovingDay.com - Moving Companies - Local, State, Nationwide, International Moving

Compare Moving Companiesand Save

Everything Needed

Why American Savers Have Drawn the Short Straw

Why American Savers Have Drawn the Short Straw

There are painfully real reasons why America's savers feel they've got the short end of the stick

Misery Index

McCain Hopes Amnesia Will Get Him Elected.

McCain is Running on the Amnesia Platform, But It's Democrats Who Need to Forget Sarah Palin

US Government Takes On Six Trillion Dollars of Bad Debt

Another Reason For TERM LIMITS!!!

U.S. Near Deal on Fannie, Freddie

Words Palin didn't say...

Pound and euro slide amid more housing gloom

Is It Worth (& Smart) To Refinance Your Mortgage To Pay Off High Interest Credit Card Debt?

Is It Worth (& Smart) To Refinance Your Mortgage To Pay Off High Interest Credit Card Debt?

consolidate debt

mortgage rates 1

United First Financial

Compare Moving Companies
and Save